While huge quantities of wheat rots in godowns, Indian import of pasta from Italy has been growing at a phenomenal rate of 39% per year. Since pasta is made from wheat, why shouldn’t efforts be made to produce it within the country? India’s import market for pasta has grown in 10 years from Rs. 3.39 billion in 2003-04 to Rs. 17.22 billion in 2013-14. And again, pasta attracts an import duty of 40%, and it is expected the import tariff would be reduced to 20% after the Indo-EU FTA comes into effect.
Posted on: Sun, 26 Oct 2014 05:49:34 +0000
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